MXC takes first steps into pharmaceutical world

MGC Pharma (ASX:MXC) has taken the first steps into the world pharmaceuticals, developing an R&D agreement with an Israeli company to develop technology which can deliver pharmaceuticals directly to the brain.

From cosmetics to pharma

MXC, a recent listing on the ASX following the recent completion of a reverse takeover of Erin Resources has thus far focused on the cosmetic rather than the pharmaceutical game.

It launched an initial range of 15 CBD based cosmetic products this year under its MGC DERMA brand – although it has flagged intentions to deliver a total of 50 CBD based cosmetic products in the first half of this year.

It is thought, however, that the main game for MXC has been to get into the pharmaceutical market – and it has in the past sold ‘active pharmaceutical ingredients’ derived from cannabis to other pharmaceutical companies.

The move into R&D though effectively signals its market entry into the fully-fledged pharmaceutical market.

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